**Crypto Market Plunges After Trump Announces 100% Tariff on All Chinese Imports**

The cryptocurrency market just took a massive hit following a major political move by former U.S. President Donald Trump. In a shocking announcement, Trump declared a full 100% tariff on all goods imported from China. This includes everything from basic manufactured products to critical software used in advanced tech sectors like cloud computing and artificial intelligence.

This new tariff decision comes as tensions between the U.S. and China continue to rise, especially after China revealed its plan to limit the export of rare earth minerals—key components in electronics and high-tech manufacturing. The U.S. response? A direct economic blow that could reshape global trade patterns.

Starting November 1, these tariffs will officially kick in. The ripple effect is already being felt around the world, especially in the cryptocurrency market, which reacted almost immediately with steep losses.

**Crypto Crash: Bitcoin and Ethereum Drop Hard**

Right after the announcement at 6:10 AM, Bitcoin dropped sharply by 7.60%, falling to $112,592.31. Ethereum took an even steeper dive, plunging 12.24% to $3,845.92, according to CoinMarketCap.

But it didn’t stop there. Bitcoin also saw over $9.5 billion in liquidations, as investors scrambled when the price couldn’t hold its support level at $120,000. Other major cryptocurrencies followed the same downward trend:

– **Tether** dropped slightly by 0.28%, now holding a market cap of $178.97 billion.
– **Binance Coin** fell by 12.91%, bringing its market cap down to $152.27 billion.
– **XRP** saw a major loss of 16.31%, with its market cap dropping to $140.19 billion.

The sudden downturn has sent shockwaves through the crypto community, with many investors concerned about what could come next if trade tensions continue to escalate.

**Trump Blasts China’s Trade Policies on Social Media**

In response to China’s decision on rare earth exports, Trump shared a lengthy post on his Truth Social platform. He accused China of taking an “extraordinarily aggressive” stance and claimed their actions were designed years in advance as part of a long-term strategy.

According to Trump, China’s new export rules will affect not just the U.S., but every country around the globe. He called it a “moral disgrace” and said it goes against all norms of international trade.

He then warned that the U.S. will fight back hard. Starting November 1, or even earlier depending on China’s actions, Trump said the U.S. will not only impose a 100% tariff but also place strict controls on software imports from China.

“It is impossible to believe that China would have taken such an action,” he wrote. “But they have — and the rest is history.”

**What This Means for Investors and the Tech World**

This latest turn in the U.S.-China trade war is more than just political drama—it has real consequences for global markets. The tech industry, especially companies that rely on software and hardware from China, could face major disruptions.

Meanwhile, crypto investors are now bracing for more volatility as global uncertainty grows. With prices already tumbling and no clear resolution in sight, many are wondering how much worse it could get before things start to recover.

Keywords: crypto market crash, Trump tariff on China, Bitcoin drop, Ethereum plunge, U.S.-China trade war, rare earth minerals export ban, cryptocurrency news, crypto investment risk, software import ban, global economic impact